97/26 CHECK AGAINST DELIVERY

NOTES FOR AN ADDRESS BY

THE HONOURABLE SERGIO MARCHI

MINISTER FOR INTERNATIONAL TRADE

ON THE OCCASION OF

A LUNCHEON HONOURING

PRESIDENT OSCAR LUIGI SCALFARO OF ITALY

TORONTO, Ontario

June 25, 1997

This document is also available on the Department's Internet site: http://www.dfait-maeci.gc.ca

President Scalfaro, colleagues in government, distinguished guests, ladies and gentlemen:

Let me begin by saying what a great privilege it is for me to be here with President Scalfaro on his first visit to Canada. It has been some time since we have been honoured by the visit of an Italian President.

As the son of Italian parents, I am delighted that one of my first official functions as Minister for International Trade is to welcome the President of Italy to Canada!

We are also delighted, Mr. President, that your daughter has joined you and we hope that both of you enjoy your stay in Canada.

Mr. President, you should feel very much at home in Toronto. More than 400 000 Canadians of Italian descent live in this city and it is one of the few places outside Italy where you can get decent risotto!

The personal ties between our two countries are both strong and enduring.

Italy and Canada are old friends. Some would say "family." Many of your sons and daughters emigrated to Canada and helped to build a strong, prosperous and free country. They saw in this new country a land of hope and opportunity. They have contributed to the national fabric and have excelled in all fields.

Their story is, in many ways, the story of Canada.

We are particularly mindful of our debt to Italy this year, as Canada celebrates the 500th anniversary of Giovanni Caboto's landing in Newfoundland. Caboto started something of a trend: Italians have been visiting Canada ever since!

And as members of the world community, we also acknowledge the remarkable cultural legacy that is Italy. Like nations everywhere, we stand as inheritors of the genius of Michelangelo, da Vinci, Dante, Rossini and Caruso.

We are grateful recipients of the brilliant culture, rich history and incomparable beauty of Italy. But I had better stop there, or I'll be accused of being biased!

Of course, Italy and Canada are united as much by present realities as by past experiences.

We share many international responsibilities in forums such as the United Nations, the World Trade Organization and the Organization for Economic Co-operation and Development. We are both known for our peacekeeping efforts.

We are both members of the G-7, and we are both poised to profit from recent developments in our respective regions -- Italy with the move to a single-currency European market and Canada with the opportunities presented by the North American Free Trade Agreement.

It is my firm belief that to the already strong bonds of friendship, Italy and Canada must now add the ties of commerce. We must increase the amount of trade and investment between our two countries. And the potential is just amazing!

Right now, trade between us is substantial -- over $4 billion. Many Italian companies are household names here in Canada -- companies like Olivetti, Pirelli and Benetton.

And many Canadian companies are well known in Italy -- companies like Nortel, Alcan, Bata and Zenon. But the simple fact is that we should be trading and investing far, far more with one another, given the size and importance of our economies.

If there was ever a time for Italian and Canadian businesses to combine forces and pool resources, it's now. If there was ever a time ripe with opportunities for strategic alliances and mutually beneficial partnerships, it's now.

Wonderful opportunities exist, not only for large, well-known companies, but also for smaller and medium-sized companies. These smaller enterprises, know their respective markets well. They understand the cultures, they understand the environment.

And these companies are innovative, adaptable and flexible. They can respond quickly to new circumstances and new opportunities. What they may lack is sufficient size to move into new markets.

By combining forces, we can assist each other both to understand and to penetrate the larger markets which await us. So much is to be gained by using each other as gateways to these exciting new opportunities.

And there is also vast potential in third markets. One area of particular promise is in the field of large-scale infrastructure projects.

Both countries are involved in these kinds of projects in the developing world. Just think of what we could do if we teamed up in areas like communication, transportation and environmental technologies!

Of course, many contacts have already been established between Italian and Canadian companies in the areas of software and telecommunications.

Canadian companies had a strong presence at the very successful SMAU Information Technologies Fair held in Milan.

And during his visit to Italy just a few months ago, my predecessor, Minister Eggleton, signed an agreement for co-operation in the field of telecommunications.

There are many other areas of promise for Canadian companies as well.

Canadian companies recognize the advantages of aligning themselves with Italian partners. Italy boasts the fifth-largest economy in the world, with 57 million affluent consumers. And it is blessed with a strategic location.

If there is one country that is poised to become the premier transatlantic trading nation, it is Italy. And we want to help you build that future. We want to be your partners as you take on North America; with its many economic advantages, an enterprising citizenry and a progressive national fabric, Canada should clearly be your destination of choice.

Both Italy and Canada share a common desire to increase employment, especially for our young people. Trade is a major creator of jobs and by fully realizing the potential of Italian-Canadian trade, we can open new markets, explore new opportunities and create new jobs for citizens in both countries.

Mr. President, few nations on earth share the kind of close cultural ties we do. We know one another. We're comfortable with one another. Some of us even speak the same language! Let's translate those ties into a thriving economic relationship -- one that benefits both Italy and Canada.

We are honoured by your presence, Mr. President, and we wish you the very best during your stay in Canada.

Viva Italia! Viva Canada!